Deposits to Principal Collection Account Sample Clauses

Deposits to Principal Collection Account. On the Closing Date, the Issuer shall have delivered the Deposit in an amount of approximately $63,000,000 to the Trustee and the Trustee shall have deposited such Deposit in the Principal Collection Account for purchases of Collateral Obligations after the Closing Date; provided that, notwithstanding any other provision of this Indenture (including Article XI), the Issuer, at the option of the Equity Owner, shall have the right to direct the Trustee (such direction to be given on the Closing Date) to make a one-time cash distribution from such Deposit to the Equity Owner in an amount not to exceed $17,650,000. The purchase price to be paid by the Issuer on the Closing Date for the Collateral Obligations listed on Schedule A on the Closing Date shall consist of the issuance of the Issuer’s membership interest to the Equity Owner. On or prior to the date of the first Increase on or after the First Amendment Date, the Issuer shall deliver cash in an amount of $60,000,000 to the Trustee for deposit in the Principal Collection Account; provided that the Issuer, at the option of the Equity Owner, may deliver to the Trustee, in lieu of cash, Collateral Obligations in an Aggregate Principal Amount of not less than $60,000,000 and subject to the prior written consent of the Majority of the Controlling Class with respect to each such Collateral Obligation.
Sample 1
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Deposits to Principal Collection Account. On the Closing Date, the Issuer shall have delivered the Deposit in an amount of approximately $22,000,000 to the Trustee and the Trustee shall have deposited such Deposit in the Principal Collection Account for purchases of Collateral Obligations after the Closing Date, and on the First Amendment Date, the Issuer may, in its discretion, deliver the Deposit in an amount to be determined in its sole discretion to the Trustee and the Trustee shall deposit such Deposit in the Principal Collection Account for purchases of Collateral Obligations after the First Amendment Date; provided that, notwithstanding any other provision of this Indenture (including Article XI), the Issuer, at the option of the Equity Owner, shall have the right to (A) direct the Trustee (such direction to be given on the Closing Date) to make a one-time cash distribution from such Deposit to the Equity Owner in an amount not to exceed $3,666,666.67 and (B) direct the Trustee (such direction to be given on the First Amendment Date) to make a one-time cash distribution from such Deposit to the Equity Owner in an amount not to exceed $0.00. The purchase price to be paid by the Issuer on the Closing Date for the Collateral Obligations listed on Schedule A on the Closing Date shall consist of the issuance of the Issuer’s membership interest to the Equity Owner. The purchase price to be paid by the Issuer on the First Amendment Date for the Collateral Obligations listed on Schedule A-1 on the First Amendment Date shall consist of an increase in the value of the Issuer’s membership interest owned by the Equity Owner. On or prior to the date of the first Increase, the Issuer shall deliver cash in an amount of $95,000,000 to the Trustee for deposit in the Principal Collection Account; provided that the Issuer, at the option of the Equity Owner, may deliver to the Trustee, in lieu of cash, Collateral Obligations in an Aggregate Principal Amount of not less than $95,000,000 and subject to the prior written consent of the Majority of the Controlling Class with respect to each such Collateral Obligation.
Sample 1
Deposits to Principal Collection Account. On the Closing Date, the Issuer shall have delivered the Deposit in an amount of approximately $63,000,000 to the Trustee and the Trustee shall have deposited such Deposit in the Principal Collection Account for purchases of Collateral Obligations after the Closing Date; provided that, notwithstanding any other provision of this Indenture (including Article XI), the Issuer, at the option of the Equity Owner, shall have the right to direct the Trustee (such direction to be given on the Closing Date) to make a one-time cash distribution from such Deposit to the Equity Owner in an amount not to exceed $17,650,000. The purchase price to be paid by the Issuer on the Closing Date for the Collateral Obligations listed on Schedule A on the Closing Date shall consist of the issuance of the Issuer’s membership interest to the Equity Owner.
Sample 1

Related to Deposits to Principal Collection Account

  • Deposits to the Collection Account On behalf of the Trust Fund, the Master Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Master Servicer's receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, and retain therein, the following payments and collections received or made by it subsequent to the Cut-off Date with respect to the Mortgage Loans, or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto:

  • Deposits to Collection Account The Servicer shall use its best efforts to deposit or cause to be deposited (without duplication), within two (2) Business Days after receipt thereof, into the Collection Account and retain therein in trust for the benefit of the Grantor Trust Holder:

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

  • Distributions from Collection Account Subject to Section 8.2(e), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Collection Account and make deposits and payments, to the extent of Available Funds in the Collection Account for that Payment Date, in the following order of priority (pro rata within each priority level based on the amounts due except as otherwise stated):

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • Collection Account (a) On the Closing Date, the Master Servicer shall open and shall thereafter maintain a segregated account held in trust (the “Collection Account”), entitled “Collection Account, Aurora Loan Services LLC, as Master Servicer, in trust for the benefit of the Holders of Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2005-5.” The Collection Account shall relate solely to the Certificates issued by the Trust Fund hereunder, and funds in such Collection Account shall not be commingled with any other monies.

  • Excess Collection Account Amounts allocated to the Series 2023-2 Excess Collection Account on any Series 2023-2 Deposit Date will be (w) first, deposited in the Series 2023-2 Reserve Account in an amount up to the excess, if any, of the Series 2023-2 Required Reserve Account Amount for such date over the Series 2023-2 Available Reserve Account Amount for such date, (x) second, used to pay the principal amount of other Series of Notes that are then in amortization, (y) third, released to AESOP Leasing in an amount equal to the product of (A) the Loan Agreement’s Share with respect to the AESOP I Operating Lease Loan Agreement as of such date and (B) 100% minus the Loan Payment Allocation Percentage with respect to the AESOP I Operating Lease Loan Agreement as of such date and (C) the amount of any remaining funds and (z) fourth, paid to ABRCF for any use permitted by the Related Documents including to make Loans under the Loan Agreements to the extent the Borrowers have requested Loans thereunder and Eligible Vehicles are available for financing thereunder; provided, however, that in the case of clauses (x), (y) and (z), that no Amortization Event, Series 2023-2 Enhancement Deficiency or AESOP I Operating Lease Vehicle Deficiency would result therefrom or exist immediately thereafter. Upon the occurrence of an Amortization Event and once a Trust Officer has actual knowledge of the Amortization Event, funds on deposit in the Series 2023-2 Excess Collection Account will be withdrawn by the Trustee, deposited in the Series 2023-2 Collection Account and allocated as Principal Collections to reduce the Series 2023-2 Invested Amount on the immediately succeeding Distribution Date.

  • Payments to Collection Account On or before the applicable Cut-Off Date, the Servicer shall have instructed all Obligors to make all payments in respect of the Collateral Portfolio directly to the Collection Account; provided that the Servicer is not required to so instruct any Obligor which is solely a guarantor or other surety (or an Obligor that is not designated as the “lead borrower” or another such similar term) unless and until the Servicer calls on the related guaranty or secondary obligation.

  • The Collection Account (a) The Trust Administrator shall establish and maintain in the name of the Notes Intermediary the Collection Account as provided in Section 5.07, which account shall be pledged to the Indenture Trustee for the benefit of the Noteholders.

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